Th4.5: Fiscal Deficit and the National Debt Flashcards
1
Q
What is the national debt?
A
the sum of all government debts built up over many years
2
Q
What is a fiscal deficit?
A
when the government spends more than it receives in a year
3
Q
What is the Public-sector Net Cash Requirement?
A
the total amount of money that the government needs to borrow in order to fulfil its spending plans - the difference between spending and revenue
